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Wall Street Pummels New Relic Inc. (NEWR) After Recent Earnings Report

New Relic Inc. (NYSE:NEWR) went down by -2.15% from its latest closing price compared to the recent 1-year high of $129.70. The company’s stock price has collected -0.41% of loss in the last five trading sessions. Barron’s reported on 02/09/22 that New Relic Stock Tanks After Guidance Disappoints. Here’s What Analysts Are Saying.

Is It Worth Investing in New Relic Inc. (NYSE :NEWR) Right Now?

Plus, the 36-month beta value for NEWR is at 0.98. Opinions of the stock are interesting as 4 analysts out of 14 who provided ratings for New Relic Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 9 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $66.33, which is $4.46 above the current price. NEWR currently public float of 54.10M and currently shorts hold a 3.65% ratio of that float. Today, the average trading volume of NEWR was 1.10M shares.

NEWR’s Market Performance

NEWR stocks went down by -0.41% for the week, with a monthly jump of 17.38% and a quarterly performance of -1.53%, while its annual performance rate touched -22.21%. The volatility ratio for the week stands at 3.37% while the volatility levels for the past 30 days are set at 4.55% for New Relic Inc. The simple moving average for the period of the last 20 days is 6.54% for NEWR stocks with a simple moving average of -19.22% for the last 200 days.

Analysts’ Opinion of NEWR

Many brokerage firms have already submitted their reports for NEWR stocks, with Morgan Stanley repeating the rating for NEWR by listing it as a “Equal-Weight.” The predicted price for NEWR in the upcoming period, according to Morgan Stanley is $64 based on the research report published on July 11th of the current year 2022.

Canaccord Genuity, on the other hand, stated in their research note that they expect to see NEWR reach a price target of $81. The rating they have provided for NEWR stocks is “Buy” according to the report published on July 07th, 2022.

NEWR Trading at 17.39% from the 50-Day Moving Average

After a stumble in the market that brought NEWR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.72% of loss for the given period.

Volatility was left at 4.55%, however, over the last 30 days, the volatility rate increased by 3.37%, as shares surge +8.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +27.40% upper at present.

During the last 5 trading sessions, NEWR fell by -0.41%, which changed the moving average for the period of 200-days by -16.29% in comparison to the 20-day moving average, which settled at $57.78. In addition, New Relic Inc. saw -44.23% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NEWR starting from Cirne Lewis, who sale 30,000 shares at the price of $52.35 back on Jul 06. After this action, Cirne Lewis now owns 45,438 shares of New Relic Inc., valued at $1,570,632 using the latest closing price.

Cirne Lewis, the Executive Chairman of New Relic Inc., sale 30,000 shares at $50.60 during a trade that took place back on Jun 07, which means that Cirne Lewis is holding 45,438 shares at $1,517,963 based on the most recent closing price.

Stock Fundamentals for NEWR

Equity return is now at value -74.10, with -18.60 for asset returns.